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Price Action and Trading Discussion

  • #2,981
  • Feb 18, 2013 6:15am Feb 18, 2013 6:15am
Quoting haimber
USDCAD WEEKLY.

closed above the 1.0000 level and weekly resistence. lets see how it goes...
Hi Haimber,

Managing to stay above that parity level so far.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,982
  • Feb 18, 2013 6:19am Feb 18, 2013 6:19am
Quoting Tiwa
What you should do is to safe any watchlist as a profile that way any changes will not after your setting i hope this will help.
Done this and it works a bloody treat !!!!!

Have saved files for future use.

Cheers for that little nugget of info Tiwa
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,983
  • Feb 18, 2013 6:21am Feb 18, 2013 6:21am
Quoting jibjib210
hey guys a couple trades taken last night. First I am with you DW on the audusd trade, i usually dont wait for the price to react down as my SL gets too big but i anticipate the move. So same chart as you but i have taken the trade.Attachment

Second trade is the audnzd one just added another position was following it up on the 4HR made a double top and the neckline happend to be in the exact area where my weekly resistance is so i took a more agressive entry than usually as i would usually wait for the price to come back and touch...
Hi jibjib,

Looking pretty impressive there
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,984
  • Feb 18, 2013 8:53am Feb 18, 2013 8:53am
Quoting DarkWolF
Done this and it works a bloody treat !!!!!

Have saved files for future use.

Cheers for that little nugget of info Tiwa
No problem and you're welcome
  • #2,985
  • Feb 18, 2013 9:03am Feb 18, 2013 9:03am
Quoting DarkWolF
Hi bull.bear,

Firstly can I ask is this a method that you have done any sort of forward testing with ?

Secondly, anyone who believes they have a 100% trading method I would suggest that it would be extremely hard to achieve and I would indeed like to see some sort of facts to stand behind that. Just my opinion but I believe a 100% trading system is basically impossible.

And last of all, hedging against positions I would highly suggest to stay away from unless you have an extremely large trading account that can handle some significant...
Thanks for your comment.
I have not done any test yet, but would like to hear traders comment and get more information, I might miss something else.

Yes, I know that martingale method would eventually blow up trading account if many positions are added in and does not have large fund to sustain the DD. What if I trade smaller time frame? So I could complete a game in short time, to avoid martingale risk.

Since losing position would become winning in the end, and temporary DD is covered by hedging, time to complete a game is reduced, so I think I could have this kind of system if manage everything well. Of course I must have done forward testing and monitor closely.

Do I miss something here? Please enlighten me. Thanks.
  • #2,986
  • Feb 19, 2013 2:30am Feb 19, 2013 2:30am
hi DW and all.


AUDCAD

nice bullish bar above weekly support.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 81 KB
trading is not an addiction. it's a profession.
  • #2,987
  • Feb 19, 2013 3:15am Feb 19, 2013 3:15am
My buy stop order just trigger on USDCAD 4hour time frame i hope it work out fine
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 4hour long set-up 19 02 2013.gif Size: 21 KB
  • #2,988
  • Feb 19, 2013 5:46am Feb 19, 2013 5:46am
Quoting Tiwa
My buy stop order just trigger on USDCAD 4hour time frame i hope it work out fine
Attachment
I put a pending in on the same pair above the last 4 hourly candle, just got triggerd in.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,989
  • Feb 19, 2013 5:56am Feb 19, 2013 5:56am
Quoting haimber
hi DW and all.


AUDCAD

nice bullish bar above weekly support.
Hi Haimber,

Indeed it is.

This is the area that I am keeping an eye on with this pair.

Longer term range and RN area.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD Daily 19-02.jpg Size: 85 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,990
  • Feb 19, 2013 8:41am Feb 19, 2013 8:41am
hey guys

Off school this week before exams so i will be checking in a fair bit.

I havent taken any trades thus far this wk. Saw the usd/cad trade decided to hold off on it as i have wayy too many positions open and too much exposure. Espically after aud/nzd and aud/usd retracted last night

Looks to me like a correction and trend should continue downwards but not quite too sure on what to do at the moment. Thoughts?
  • #2,991
  • Feb 19, 2013 10:21am Feb 19, 2013 10:21am
This trade as been on my watch list for some weeks and just trigger am just following trend with patient and i hope it work out well for me
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud short setup weekly 19 02 2013 update.gif Size: 24 KB
  • #2,992
  • Feb 19, 2013 2:10pm Feb 19, 2013 2:10pm
Quoting Tiwa
This trade as been on my watch list for some weeks and just trigger am just following trend with patient and i hope it work out well for me
Attachment
Looking good so far for a bit of a short move
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,993
  • Feb 19, 2013 2:13pm Feb 19, 2013 2:13pm
Quoting jibjib210
hey guys

Off school this week before exams so i will be checking in a fair bit.

I havent taken any trades thus far this wk. Saw the usd/cad trade decided to hold off on it as i have wayy too many positions open and too much exposure. Espically after aud/nzd and aud/usd retracted last night

Looks to me like a correction and trend should continue downwards but not quite too sure on what to do at the moment. Thoughts?
Hi Jibjib,

I hope the exam prep is all in hand

AUDNZD I am still holding also, looks like the daily session is rejecting away from the last small area of consolidation. Looking for a target around that 1.2000 area, but I guess time will tell.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,994
  • Feb 19, 2013 2:17pm Feb 19, 2013 2:17pm
GBPJPY Hourly:

Had this one trigger in right before I head off to sleep last night, woke up this morning to see the target area achieved.

Had a pending in for EURJPY short also on the hourly but nothing got triggered on that one so has now been deleted.

USDCAD 4 hourly trade not looking too good at the moment, I may be spooking myself out but I just closed it out with a small 11 pip loss.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY Hourly 19-02.jpg Size: 78 KB
Click to Enlarge Name: GBPJPY Hourly 1 19-02.jpg Size: 79 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,995
  • Feb 19, 2013 2:19pm Feb 19, 2013 2:19pm
Quoting Tiwa
This trade as been on my watch list for some weeks and just trigger am just following trend with patient and i hope it work out well for me
Attachment
hi tiwa.

the price is within a triangle in the weely close to the bottom of the triangle. thats why i didnt take this trade since i expect some sort of chopy reaction there. the last weekly bar is bearish though. hope it will work well for you.
trading is not an addiction. it's a profession.
  • #2,996
  • Feb 19, 2013 2:39pm Feb 19, 2013 2:39pm
Quoting DarkWolF
Hi Jibjib,

I hope the exam prep is all in hand

AUDNZD I am still holding also, looks like the daily session is rejecting away from the last small area of consolidation. Looking for a target around that 1.2000 area, but I guess time will tell.
i'm also in, it sit on a weekly support we'll need some patience
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 83 KB
trading is not an addiction. it's a profession.
  • #2,997
  • Feb 19, 2013 3:58pm Feb 19, 2013 3:58pm
Quoting haimber
hi tiwa.

the price is within a triangle in the weely close to the bottom of the triangle. thats why i didnt take this trade since i expect some sort of chopy reaction there. the last weekly bar is bearish though. hope it will work well for you.
Thank you but the reasons of taking the trade is simply base on price and candle stick formation, as we can see the triangle was broken the market moved back and out of the triangle so the point is we do have weekly candle what of if we have 2week candle stick so the green and the red combine become hammer.
I like taken percentage on my trade so i have already did @37 pips so i will not be loosing.
  • #2,998
  • Feb 19, 2013 3:59pm Feb 19, 2013 3:59pm
Quoting DarkWolF
GBPJPY Hourly:

Had this one trigger in right before I head off to sleep last night, woke up this morning to see the target area achieved.

Had a pending in for EURJPY short also on the hourly but nothing got triggered on that one so has now been deleted.

USDCAD 4 hourly trade not looking too good at the moment, I may be spooking myself out but I just closed it out with a small 11 pip loss.
Am out of the usdcad just breakeven.
  • #2,999
  • Feb 19, 2013 8:58pm Feb 19, 2013 8:58pm
GAHHH!!! aud/nzd manually closed it after the big news of the governor speaking! That was painful to watch price spike 70 pips....

Net gain of only 300 pips !!!!

Audusd only position open now
  • #3,000
  • Feb 20, 2013 3:42am Feb 20, 2013 3:42am
just took this one with 70 pips in the bank GBPCHF 4 hour time frame. GOOD LUCK
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf short trade 4hour 20 02 2013.gif Size: 23 KB
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